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The European Commission is poised to use its only in-depth foreign subsidies case as a blueprint as it weighs potential concessions from UAE oil giant ADNOC, ahead of a €14.7 billion deal filing expected as early as this month.
Schlumberger’s (SLB) proposed $7.8 billion acquisition of rival ChampionX (CHX) will be reviewed in Norway, a spokesperson for country’s competition enforcer told The Capitol Forum. European scrutiny of the deal, which combines two U.S. oil field service providers, is expected to home...
Congressional Democrats launch probe into oil collusion, drawing in major producers. The FTC’s explosive findings on former Pioneer Natural Resources CEO Scott Sheffield’s communications with other oil producers including OPEC representatives continues to reverberate on Capitol Hill,...
Second request pushes Chesapeake/Southwestern deal back. Chesapeake Energy Corporation (CHK) and Southwestern Energy Company’s (SWN) planned merger received a second request from the FTC on April 4, with regulators seeking more information about the impacts of a merger that’s expected...
EQT Corp’s (EQT) proposed $5.5 billion acquisition of its former pipeline arm Equitrans Midstream Corp (ETRN) would create Appalachia’s largest vertically integrated natural gas company and one that would have extensive dealings with EQT...
FTC staff reviewing ExxonMobil’s (XOM) proposed $59.5 billion acquisition of Pioneer Natural Resources (PXD) will likely examine the past labor practices of the companies, according to a Capitol Forum analysis—a history that includes the deaths of three oilfield services contractors...
ExxonMobil’s (XOM) proposed $59.5 billion takeover of Pioneer Natural Resources (PXD) and Chevron’s (CVX) $53 billion bid for Hess (HES) spurred a large number of Democratic senators in a letter this month to call on the FTC to closely probe the energy mega deals—a possible sign...
Enbridge Inc’s (ENB) acquisition of electric utilities from Dominion Energy Inc (D) will give it control over Dominion’s northern Ohio natural gas storage assets, reducing the number of working gas storage owners in the Central Great Lakes region and potentially allowing Enbridge to...
In its acquisition of utility company Dominion (D), Enbridge (ENB), a major pipeline operator, could use Dominion’s control over contracts between buyers and sellers of natural gas in Ohio to favor its own interstate pipelines, according to a Capitol Forum analysis. Enbridge currently...
The Federal Energy Regulatory Commission (FERC) said yesterday that it wants more information on the Vistra (VST) acquisition of Energy Harbor (ENGH) after antitrust concerns were raised by state and regional authorities. “Please be advised that the Application is deficient, and the...
In July, Houston Natural Resources (OTC: HNRC) acquired Appalachian operator Cunningham Energy for an undisclosed sum, after paying $19.62 million for a 9.9% interest in October 2022, with the company planning a NASDAQ or NYSE uplisting later this year. Central to the deal is an...
On August 31, the Deka Group expects its ESG ETFs to drop FirstEnergy (FE) following an index rebalancing by MSCI (MSCI), according to a statement made to The Capitol Forum by a Deka spokesperson. The Capitol Forum first reported in June that FirstEnergy would be dropped from numerous...
Chevron’s proposed $7.6 billion merger with PDC Energy would significantly consolidate the Colorado oil and gas industry—the fifth largest crude oil-producing state in the U.S.—combining Chevron’s 10 percent of Colorado’s market share with PDC Energy’s 16 percent, according to...
Index providers S&P Global (SPGI), MSCI (MSCI) and the London Stock Exchange Group’s (LSE) FTSE Russell are likely poised to remove FirstEnergy (FE) from at least 18 of their ESG indices after their next quarterly redetermination, according to a Capitol Forum investigation. Over a...
Environmental, social, and governance (ESG) concerns factored into Swiss investment firm Pictet’s internal decision to close a position in FirstEnergy (FE) held by its sustainability-focused fund, according to information obtained by The Capitol Forum. The Pictet Clean Energy Transition...
Bidding documents produced during the first stages of states’ efforts to plug wells with federal funds reveal that certain wells identified for plugging appear to be owned by active operators like Chesapeake Energy (CHK), Diversified Energy (LON: DEC), or BP (BP), according to The...
Coterra Energy (CTRA) appears on track to see its lowest annual Marcellus output since 2018, with the company reporting an average of 77 million Mcfe per month from its Marcellus wells in the fourth quarter, Upstream shows. Coterra’s total Marcellus production in the second half of 2022...
Coterra Energy (CTRA) appears to be running out of Tier One inventory in the Marcellus, Upstream suggests, while its regional production during the first three quarters of 2022 has dipped to the company’s lowest levels since 2018. A surge in production in the second half of the year...
Energy and transportation company FTAI Infrastructure (FIP) will likely see lower revenues this quarter amid a cut to steel and tin production from its largest freight customer, US Steel (X), according to a Capitol Forum investigation. ...
Marking a return to the region after its 2020 exit, oil and natural gas explorer and producer EOG Resources (EOG) is ramping its drilling program and increasing its acreage on the edge of the Utica Basin’s oil window in Ohio, according to a Capitol Forum investigation. Companies like...
As Appalachian natural gas companies continue to bring their portfolios to market, buyers have yet to be persuaded on the upside as they expect further volatility into the winter and beyond. Sellers like ExxonMobil (XOM), Tug Hill Operating, Apex Energy, and Olympus Energy have been...
European Commission investigators are stepping up their ongoing probe into allegations Russia’s state-owned Gazprom (GAZP) has abused its dominance on the wholesale natural gas market as political pressure mounts to address surging energy prices in light of the war in Ukraine. The...
Hundreds of UGI Corp.’s (UGI) AmeriGas retail propane customers in at least 39 states have experienced service delays for weeks to months during some of the coldest periods of the winter season, according to a Capitol Forum investigation. Most complaints follow a pattern: vulnerable...
Residential customers of Suburban Propane (SPH) and UGI Corp. (UGI) subsidiary AmeriGas in 15 states described sharply rising propane prices as fall turned to winter, leading to significant duress in some customers’ everyday lives, according to a review of online complaints and...
On Friday, the California Public Utilities Commission (CPUC) preliminarily denied a Bloom Energy (BE) proposal to create a microgrid capacity services tariff to provide electricity to the grid during outages. Under its proposal previously reported on by The Capitol Forum, Bloom requested...
EQT Corp. (EQT), the nation’s largest natural gas producer, owns a higher proportion and count of non-producing wells in the Appalachian Basin than its publicly traded peers, according to a Capitol Forum investigation. Of EQT’s more than 3,600 inactive wells that must be either...
Fuel cell manufacturer Bloom Energy (BE) faces a phase out of incentives it currently receives under The Republic of Korea’s Renewable Portfolio Standard (RPS) for its natural gas-powered fuel cells as the country moves towards a Hydrogen Portfolio Standard (HPS), sources familiar with...
The entity created in a bankruptcy reorganization to operate and fund the retirement of APA Corp’s (APA) legacy assets in the Gulf of Mexico may face more than $400 million in revenue shortfalls from lower-than-forecast production by 2025, according to The Capitol Forum’s...
In four of the nine East Coast states in which Bloom Energy (BE) operates, the company faces hurdles to participate in state-funded incentive programs designed to encourage renewable energy development, as states favor greener alternatives and have established other parameters that Bloom...
In Pennsylvania, Diversified Gas and Oil (LON: DGOC) brought 482 non-producing wells online in 2019, 268 of which reported exactly the threshold level of production that exempts the company from a tighter retirement schedule—100 thousand cubic feet (mcf) of natural gas—pursuant to its...
